HK Stock Market Move | Tianyu Semiconductor (02658) rebounded by more than 12% on the day after its listing, still 20% below the IPO price.

Tianyu Semiconductor (02658) rebounded over 12% on the day after its debut, reaching a high of HK$46.16, still 20% lower than its IPO price of HK$58. As of the time of writing, it has risen by 12% to HK$45.36 with a turnover of HK$81.50 million. It is reported that Tianyu Semiconductor is the largest manufacturer of silicon carbide epitaxial wafers in China, with market shares of 30.6% and 32.5% in terms of revenue and sales in the Chinese market in 2024. In addition, as of the end of May this year, the annual production capacity of 6-inch and 8-inch epitaxial wafers of Tianyu Semiconductor is about 420,000 wafers, making it one of the companies with the most production capacity in this field in China. The revenue for 2022, 2023, and 2024 are 437 million, 1.171 billion, and 520 million yuan, respectively. After the net profit increased from 2.814 million yuan to 95.882 million yuan, it turned into a loss of 500 million yuan in 2024. In the first five months of 2025, the revenue was 257 million yuan, achieving a net profit of 9.515 million yuan. Guotai Junan International had previously commented that the company's performance declined in 2024 mainly due to the decrease in market prices and overseas sales of its silicon carbide epitaxial wafers. Huawei's Hubble Technology Investment holds company shares, which is conducive to the company's business obtaining greater growth potential in the medium to long term.